The research study offers a thorough analysis, focusing on the lucrative opportunities, latest trends, drivers, and limitations in the global brakes market. In addition, the key application, product segmentation, geographical segmentation, and the competitive landscape of the market have been discussed at length in the coming years. To provide a strong understanding of the overall market, the research study offers the historical information and forecast statistics.

According to the research study, the global brakes market is estimated to register a 4.66% CAGR between 2016 and 2021. Robust growth of this market can be attributed to the growing demand of vehicle worldwide. The rising pace of vehicle production, increasing stringency in safety regulations, and the growing demand for lightweight friction products are some of the key factors anticipated to augment global brakes market. On the flip side, environmental regulation on brake friction products and extended vehicle warranties are estimated to restrict the market's growth in the coming years. Furthermore, the introduction of eco-friendly brake friction products and the advent of copper-free brake pads are likely to offer potential growth opportunities for players operating in the global brakes market.

On the basis of geography, the global brakes market has been classified into Asia Pacific, North America, Europe, and the Rest of the World. Among these regions, Asia Pacific is expected to lead and account for a massive share of the global brakes market. The rising demand for automobiles in India and China is one of the primary factor augmenting the growth of the brakes market in Asia Pacific. In addition, the low production cost and the easy availability of labor are some of the factor accelerating the growth of the overall market. The market share and the predicted growth rate of each region have been provided in the research report.

Some of the prominent players operating in the global brakes market are Nissin Kogyo Co., Ltd., Aisin Seiki Co. Ltd., WABCO, Knorr-Bremse AG, Akebono Brake Industry Co. Ltd., Brembo S.P.A., Mando Corporation, Haldex AB, Federal-Mogul Holdings Corporation, and ZF Group. The increasing number of companies participating in the market is likely to intensify the competitive scenario in the forecast period. In addition, the rising focus of these players on innovations and expansion of product portfolio is likely to encourage the growth of the overall market in the near future.

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